BNB Stays Above Major Support Despite Market Jitters from Israel-Iran Escalation

BNB Defends $640 as Market Turmoil Mounts, But Bulls Show Caution

BNB is holding its ground above the key $640 support level despite mounting geopolitical tensions and a broader risk-off move in global markets. The crypto market was rattled by renewed conflict between Israel and Iran, with retaliatory missile strikes sparking over $700 million in liquidations within a single day, according to CoinGlass.

Even as risk assets sold off and altcoins stumbled, BNB remained relatively stable, trading in a narrow 1% band. Attempts to reclaim the $660 resistance failed, with price action now compressing into a symmetrical triangle formation, per CoinDesk Research’s technical model.

The $640 zone, anchored by the 78.6% Fibonacci retracement, has emerged as a strong support floor. Volume patterns show persistent selling at $655.5, while demand is concentrated around $649, hinting at a buildup of short-term positioning.

From a technical standpoint, signals are mixed:

MACD has crossed into negative territory, and RSI sits below the neutral 50 line, reflecting fading momentum.
On the flip side, a golden cross setup is developing between the 50- and 200-day moving averages—a potential bullish catalyst.
The Chaikin Money Flow (CMF) remains in positive territory, indicating net capital inflow despite weak price action.

Still, caution persists among traders. Net Taker Volume has dropped to -197 million, a multi-week low, suggesting a lack of conviction among buyers and sustained sell-side aggression.

Meanwhile, fundamentals paint a nuanced picture: Binance Smart Chain is seeing robust growth in perpetual volumes, but that surge hasn’t boosted BNB demand. Open interest in BNB futures remains depressed—down over 30% from December peaks—highlighting reduced speculative interest.

Unless bulls can push BNB above $660 with volume, the current consolidation could break lower. But so far, the defense of $640 signals that dip buyers are not yet ready to give up control.